CY Oriental Holdings Ltd. Extends Term of Warrants



    VANCOUVER, Aug. 22 /CNW/ - CY Oriental Holdings Ltd. (TSX-V: CYO) ("CY
Oriental" or the "Company") today announced that while the Company is using
its best efforts to file its outstanding continuous disclosure documents and
to revoke the cease trade orders on the trading of the Company's shares, the
Company has extended the term for the exercise of the warrants that were
issued by the Company on February 21, 2007 (each whole warrant entitling the
registered holder to purchase one common share in the capital of the Company
at an exercise price of $1.60 per share). The term for exercising the warrants
has been extended by 50 days (the number of days from the date the initial
cease trade order was issued on July 3, 2008 until the previous expiry date of
the warrants on August 21, 2008) after the revocation date of all cease trade
orders against the Company. However, if such cease trade orders are not
revoked by February 21, 2009, then the warrants will be deemed to have expired
on the original expiry date of August 21, 2008. The Company is applying to the
TSX Venture Exchange to accept this extension of the term to exercise the
warrants.

    About CY Oriental Holdings Ltd.

    CY Oriental is a Canadian incorporated, China-based manufacturer and
value-added supplier of apparel and fashion products to leading international
brands and retailers, including department stores. CY Oriental owns and
operates a manufacturing facility in Shanghai, China and a newly constructed
facility in the city of Tengzhou, China. The Company's ready-made products
include a broad range of high-quality garments, including woven casual wear,
woven formal wear, casual jeanswear and sports outerwear. More information may
be found online by visiting www.cyoriental.com.

    FORWARD LOOKING INFORMATION

    Certain information in this news release is forward-looking within the
meaning of certain securities laws, and is subject to important risks,
uncertainties and assumptions. This forward-looking information includes
information with respect to CY Oriental's expectations relating to the filing
of its outstanding continuous disclosure documents, the revocation of the
outstanding cease trade orders against the Company and the extension of the
term to exercise the warrants issued by the Company. The forward-looking
information in this news release describes CY Oriental's expectations as of
the date of this news release. The results or events anticipated or predicted
in such forward-looking information may differ materially from actual results
or events. There is no assurance that the outstanding continuous disclosure of
the Company will be filed, the cease trade orders will be revoked, or the
extension of the warrant exercise term will be accepted or available. When
relying on CY Oriental's forward-looking information to make decisions,
investors and others should carefully consider the foregoing factors and other
uncertainties and potential events. CY Oriental cautions that the foregoing
list is not exhaustive and is subject to change.

    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS
THE EXPECTATIONS OF CY ORIENTAL AS OF THE DATE OF THIS NEWS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. WHILE CY ORIENTAL MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.




For further information:

For further information: John Yuan, Vice President and Corporate
Secretary, CY Oriental Holdings Ltd., Tel: 86-21-6237-1159, Email:
john@sh-maoyuan.com; Trevor Heisler, Investor Relations, The Equicom Group,
Tel: (416) 815-0700 ext 270, Email: theisler@equicomgroup.com

Organization Profile

CY ORIENTAL HOLDINGS LTD.

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